Vir Biotech Q4/FY2023 net loss $116M/$615M; GSK flu pact ended; cash $1.63B

Vir Biotechnology, Inc.

2023-FY EPS reported -$4.59 revenue$86,180,000

Q4 net loss $116.0M ($0.86 loss per share); FY2023 net loss $615.1M ($4.59 loss per share).
Q4 revenue $16.8M (down 66% YoY); FY revenue $86.2M (down 95% YoY) on lower sotrovimab sales.
Cash, cash equivalents and investments $1.63B as of Dec 31, 2023, down $108M in Q4.
GSK influenza collaboration terminated; Vir retains sole rights to VIR-2482, VIR-2981 and pays low single-digit royalties.
CMO Phil Pang steps down March 31, 2024; SOLSTICE hepatitis delta trial enrollment ahead of schedule with initial data expected Q2 2024.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vir Biotechnology, Inc. reported financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 22, 2024, the Company issued a press release announcing its financial results for the fourth quarter and the year ended December 31, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vir Biotechnology, Inc. terminated Letter Agreement with Glaxo Wellcome UK Limited (effective 2024-02-21).

Action: termination
Agreement: collaboration
Counterparty: Glaxo Wellcome UK Limited
Effective: 2024-02-21

Exact text from the filing

On February 21, 2024, the Parties entered into a letter agreement (the “Letter Agreement”) pursuant to which the Parties mutually agreed to terminate their collaboration on the Influenza Program under the DCA.

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

Vir Biotechnology, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-006346

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